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competition (competion and competetive environment (competitive forces…
competition
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michael porter's theory
five forces
prof porter views the strategy from standpoint of economics and on the basis of his views he wrote five forces theory and value chain
here are five forces:1)the threat of new entrants and the appearance of new competitors. 2) the degree of rivalry among existing competitors in the market. 3) the bargaining power of buyers. 4)the bargainig power of suppliers. 5)the threat of subtitute products services that shrink the market.
value chain
companies can add value to the basic product in a variety of ways and through different functions.The value chain is crucail because it demonstartes that the company is more than just the sum of its perts and activities. The company needs to examine its value chain and decide where it can add.
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